PetroTerra Corp.(OTCMKTS:PTRA) has been slowly rising on accelerating volume in recent days since reversing off $0.08 lows. The stock made a spectacular run from pennies to highs well over $1.50 a share earlier this year on the Wall Street Report (WSR) promotion.
WSR, fresh from their success on BLKG listed on the PTRA disclaimer ”Mass Peak Ltd has provided the publisher with a weekly budget of approximately ONE HUNDRED AND FIFTY THOUSAND DOLLARS to cover costs associated with creating, printing and distribution of this advertisement.”
PetroTerra Corp (OTCMKTS:PTRA) is an independent oil and gas exploration company based in Colorado Springs, Colorado. The Company is engaged in identifying, evaluating and developing early stage onshore oil and gas opportunities in the domestic US.
PTRA strategy is to focus on a step-by-step approach to evaluate assets that are located in high potential, proven basins and to then prudently develop and manage those assets to create maximum value for shareholders. The Company’s current focus is on the Sevier and Beaver Oil Project in west central Utah. The Company owns a 100% working interest and 80% net revenue interest in the project.
PTRA was previously promoted by ”James L. Rapholz’ ECONOMIC ADVICE” with a preposterous $58 long term recommendation. The disclaimer is missing lots of information including how much XXXXXXXXXX, Ltd. paid James L. Rapholz’ ECONOMIC ADVICE.
The promotional material found on newoilprofit.com is way over the top exclaiming ”777% gains or more in the great oil and gas stock explosion.” it goes on to say ridiculously that ”PTRA’s initial target could hold as much as $6.1 billion in yet to be tapped oil.”
Back in February PTRA said it has completed the initial stages of its technical analysis at the Sevier Oil Prospect. The publicly available gravity and magnetic data reviewed in Phase One and the high-resolution gravity survey acquired through Phase Two have been analyzed and delivered to PetroTerra.
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Phase Two: High-Resolution Gravity Survey and Interpretation Magee Geophysical Services LLC (“Magee”) was engaged to conduct a proprietary, high-resolution gravity survey beginning in November 2014 and completed in December 2014. A total of 737 new gravity stations were acquired on a nominal quarter mile (400 Meter) grid. The new data was merged with the re-processed public domain data, which included 630 stations located in and around the main grid.
Back in November PTRA said that following its most recent site inspection of the project area the Company is initiating Phase Three of its technical analysis at the Sevier Oil Prospect.
The Company has engaged PRISEM Geoscience Consulting LLC (“PRISEM”) to conduct a structural and stratigraphic analysis of the prospect area using detailed data obtained by the Company. Following its analysis, PRISEM will deliver to the Company an initial geological model of the subsurface with recommendations on a future geologic work plan for the prospect area. PRISEM’s initial analysis is expected to be complete by the end of November 2015.
CEO John Barton said “The Company has made good progress to date with obtaining the necessary data for PRISEM to complete an initial interpretation of our Sevier prospect. Obtaining data in this area is extremely challenging and we have worked diligently to build relationships that allow us to access critical privately-held data. We will proceed to purchase or license only the most relevant seismic data needed to improve the geological model. This model should create multiple working scenarios moving forward for our acreage and enable us to continue our exploration work in the most effective way.”
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Currently trading at a $2.4 million market valuation PTRA has minimal assets, no revenues to date and rising short term debt. The stock saw a significant run up in October to highs over $1.50 on the Wall Street Report (WSR) promotion with a production budget of $150,000 a week. PTRA is an exciting story in small caps; the Company is making headway on their Sevier and Beaver Oil Project in west central Utah and the stock has just reversed off $0.08 lows and is moving up steadily on accelerating volume. We will be updating on PTRA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PTRA.
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Disclosure: we hold no position in PTRA either long or short and we have not been compensated for this article.